Energy News Europe - week 31, 2011

Austria

Opting out of nuclear energy will mean expensive electricity

Oberösterreichische Nachrichten, 2011-07-30
According to a study by the Johannes Kepler University (JKU), Austria should be careful not to immediately opt-out of using nuclear energy, particularly as the only country to do so, which in turn would result in more expensive electricity in Austria. According to the study, Austrian energy minister Niki Berlakovich's proposal for energy self-sufficiency is an unrealistic objective and that Austria should instead aim to increase its level of self-sufficiency, rather than aiming to become completely self-sufficient.

Europe

Desertec project could go North - to Greece, Italy, Spain, Portugal

Handelsblatt, 2011-08-02
European companies' Desertec project (DII Desertec Industrial Initiative), the planned construction of solarthermal, photovoltaic and wind power stations in North Africa and Middle East, should be extended to South Europe for example to countries such as Greece, Italy, Spain and Portugal, according to CEO Christoph Wolff, the head of German Solar Millennium. The latter firm implements solarthermal power plant projects such as Spain's Andasol 3 project at present. Christoph Wolff has emphasized advantages for companies and South European countries' economic development.

Hungary

Some HUF 7.77bn to be spent on energy projects by 2050

Mfor, 2011-08-03
In line with Hungary's national energy strategy which has to be passed by the Parliament, between HUF 6.75tn (EUR 24.81bn) and HUF 7.77bn will be spent on energy investments by 2050. As a result, the country's nuclear and wind energy capacity will increase by 2,000 MW and 440 MW respectively.

United Kingdom

Economy will not benefit from renewable energy subsidies

Daily Mail, 2011-08-05
Renewable energy subsidies will impose a high cost on the UK economy, with a loss of international competitiveness and net job losses, the Renewable Energy Foundation has reported. The outlook is in stark contrast to the benefits touted by prime minister David Cameron, who has repeatedly claimed some 70,000 'green collar' jobs will be created and economic growth given a boost from subsidies raised from green taxes.

National Grid submits business plan to Ofgem

Financial Times, 2011-08-05
National Grid, the operator of the UK's has and electricity distribution networks, has submitted a 2,500-page business plan for the period between 2013 and 2021 to energy regulator Ofgem. The business plan seeks approval for a 40% rise in revenue in real terms from existing levels to fund network investment. National Grid plans to invest GBP 21.90bn (EUR 25.26bn) on the UK's electricity network, while the company's investment in the gas network will reach GBP 8.8bn.

Vattenfall's other websites

Follow us

About Vattenfall

Vattenfall is a European energy company with approximately 20,000 employees. For more than 100 years we have electrified industries, supplied energy to people's homes and modernised our way of living through innovation and cooperation. We now want to make fossil-free living possible within one generation.